On Monday night, the voted to approve a public hearing for April 2 to discuss the creation of a Neighborhood Improvement District and governing board, which officials hope will ensure that the right financial decisions around the proposed are made.
The proposed interchange at Tatamy Road will feature multiple lanes and make the roads more accesible to residents in Palmer, Forks, Nazareth and Upper Nazareth.
The interchange is surrounded by 689 undeveloped acres -- all owned by . And with thousands of cars using Route 33 and Tatamy Road, it creates a tremendous opportunity for growth.
But any proposed projects must go through for approval, and township officials want to set up a seven-member Neighborhood Improvement District Board to help make financial decisions. Those decisions would include managing bond payments after a tax-deferrment program known as TIF (Tax Incremental Financing) expires after three years.
The Easton Area School Board and Northampton County also support the TIF plan under which the school board, counties and municipalities agree to forgo tax revenue in the short term to get increased revenue later.
Supervisor Chairman David Colver said Chrin will have "to pony up" for all costs outside the $33 million for the interchange.
For that reason, "it behooves Chrin to sell the land and develop it," Colver said.
Development would mean more tax revenue for the township and more jobs and more customers for local businesses.
Colver doesn't believe that any development of commercial and industrial properties will take place in the first three years of the interchange's completion, but that would be a bonus if it happens.
The April 2 meeting will take place in the library meeting room. It will be the first of three public hearings.